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    Question

    Which among the following is/are NOT covered under the

    insurance cover issued by the Deposit Insurance and Credit Guarantee Corporation (DICGC)?
    A State Government Deposits Correct Answer Incorrect Answer
    B Savings Deposits with the Commercial Banks Correct Answer Incorrect Answer
    C Current Account Deposits with the Commercial Banks Correct Answer Incorrect Answer
    D Both B and C Correct Answer Incorrect Answer
    E All A, B and C Correct Answer Incorrect Answer

    Solution

    It was established in 1978 and is based in Mumbai. DICGC of India is a subsidiary of the RBI. It is mainly associated with providing insurance cover for the bank deposits in its member banks. It does not cover foreign government deposits, deposits of the central and the state governments, inter-bank deposits, deposits of the State Land Development Banks with the State Co-Operative Banks.

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